Secondary Batteries Market Size and Growth Forecast for Businesses 2025–2029

November 14, 2025 by The Business Research Company

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#What Are The Current (2025) And Forecast (2029) Sizes Of The Secondary Batteries Market?

The market for secondary batteries has seen robust expansion lately, projected to increase its valuation from $108.37 billion in 2024 to $117.72 billion the following year, reflecting an annual compounded growth rate of 8.6%; this upswing observed across the past period stems from vigorous economic development within developing regions, swift advancements in the vehicle manufacturing sector, and the extended operational lifespan inherent in these energy storage solutions.

Anticipation points toward substantial expansion within the secondary batteries sector over the forthcoming years, projecting its valuation to reach 167.73 billion USD by 2029, driven by a compound annual growth rate of 9.3%; this surge is fundamentally underpinned by the escalating need for electric vehicles, a greater requirement for portable electronic gadgets relying on these batteries, and augmented capital deployment into lithium-ion battery technology. Key developments expected to shape this market segment encompass the production of batteries incorporating sand, the advent of graphene-based alternatives, considerable funding directed toward integrating automation and robotics into production lines, the utilization of artificial intelligence and machine learning methodologies, alongside the creation and deployment of lighter structural batteries designed specifically for ultra-light electric bicycles and various consumer electronics.

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What Are The Main Drivers Boosting The Secondary Batteries Industry’s Expansion?

The escalating requirement for electric automobiles is set to benefit the secondary batteries market favorably. Greater utilization of these batteries is also being observed within hybrid vehicles. Specifically, Nickel Metal Hybride (NiMH) batteries possess characteristics such as an expansive operational temperature range spanning from -30°C up to +75°C, coupled with their capability for quick recharging, rendering them highly suitable for the automotive industry; furthermore, NiMH batteries are adept at managing the substantial power outputs critical for electric vehicles. To illustrate this trend, data from the International Council on Clean Transportation, a non-profit entity situated in the US, indicated that since the final quarter of 2021, quarterly sales of electric vehicles (EVs) have shown uninterrupted upward momentum, with their percentage of overall light-duty vehicle sales growing from roughly 3% in the initial quarter of 2021 past the 10% mark by the conclusion of the third quarter in 2023; consequently, this sustained surge in electric vehicle uptake will function as a catalyst for the expansion of the secondary batteries market.

What Are The Key Segments In The Secondary Batteries Market?

The secondary batteries market covered in this report is segmented –

1) By Product Type: Lead Acid, Lithium-Ion (Li-Ion), Nickel Metal Hydride, Nickel-Cadmium (Ni-Cd), Other Product Type

2) By Application: Electronics, Motor Vehicles, Portable Devices, Other Applications

3) By End User: Automotive, Household, Industrial

Subsegments:

1) By Lead Acid: Flooded Lead Acid Batteries, Absorbent Glass Mat (AGM) Batteries, Gel Lead Acid Batteries

2) By Lithium-Ion (Li-Ion): Lithium Iron Phosphate (LiFePO4), Lithium Polymer (LiPo), Lithium Nickel Manganese Cobalt Oxide (NMC)

3) By Nickel Metal Hydride: High-Capacity NiMH Batteries, Rechargeable NiMH Batteries For Consumer Electronics

4) By Nickel-Cadmium (Ni-Cd): Standard Ni-Cd Batteries, Rechargeable Ni-Cd Batteries For Power Tools And Emergency Lighting

5) By Other Product Types: Sodium-Sulfur Batteries, Flow Batteries, Zinc-Air Batteries

Which Trends Are Impacting The Secondary Batteries Market?

Advances in the production of NiMH batteries have resulted in enhanced longevity for these nickel-metal hydride power sources. Due to the electropositive nature of the A-elements, these components are susceptible to degradation within the alkaline solution characteristic of NiMH battery chemistry. In order to boost both the reaction speed and the resistance to breakdown in standard NiMH cells, the alloy particles are coated with a slender protective film. Illustratively, investigations conducted by academics at Stockholm University, which operates as a publicly funded institution in Sweden, have led to the creation of novel surface architectures for metal hydride components intended to prolong the usable cycle duration of NiMH batteries.

Which Leading Players Are Enhancing Their Secondary Batteries Market Presence Worldwide?

Major companies operating in the secondary batteries market include LG Chem Co. Ltd., Contemporary Amperex Technology Co., Limited, Samsung SDI Co. Ltd., TDK Corporation, Panasonic Corporation, BYD Company Ltd., Murata Manufacturing Co., Ltd., Toshiba Corporation, SK Innovation Co., Ltd., Energizer Holdings Inc., Eveready, Duracell, Nippo, Kodak, Powercell, Hitachi Maxell, Johnson Controls, EnerSys, GP Batteries, Guangdong Zhenglong Battery Industry Company Limited, Guangzhou Tiger Head Battery Group, Hefei Guoxuan Hi-Tech Power Energy Co., Ltd., Tianjin Lishen Battery Co., Ltd., AVIC Lithium Battery, Sony Corporation, Shanghai White Elephant Swan Battery Co. Ltd., GBP International, Saft batteries, Varta Consumer Batteries, Monbat, Umicore, A123 Systems LLC, AES Group, Ultralife Corporation, Rayovac, Exide Industries Ltd, Mobisol Kenya, Associated Battery Manufacturers (E.A) Ltd, Yuasa Battery Limited, ABMkenya, Potensa

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What Are The Regional Market Dynamics Impacting The Secondary Batteries Industry?

Asia-Pacific was the largest region in the secondary batteries market in 2024. North America was the second-largest region in the global secondary batteries market share. The regions covered in the secondary batteries market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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